Transmeridian Centers Liquidation Plan On Ufex Sale

Law360, New York (June 1, 2009, 12:00 AM EDT) -- Hoping to wind down operations and unload the bulk of its assets, oil and gas producer Transmeridian Exploration Inc. has filed a plan of liquidation that would see a sale of its most important holding to Ufex Advisors Corp.

Transmeridian presented the U.S. Bankruptcy Court for the Southern District of Texas with its proposal Friday, only days after asking the judge to approve the bidding and sale procedures for a plan to sell the debtors' interests in a Kazakhstan oil field to Ufex for $35 million....
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